Secure your child’s future with the first ever 2-in-1 education and investment plan.
Your child’s dreams are limitless—make sure their education is, too! With a Soma Sure Lite Education Plan, you’re not just saving for school fees; you’re building a secure financial future that grows with them. This plan offers you the perfect blend of protection, savings, and investment growth, ensuring your child gets the best education while you enjoy peace of mind.
About Soma Sure Lite Education Plan
Soma Sure Lite Education Plan is an investment-linked education policy that enables you, as a parent or guardian, to save towards your child’s education by investing in a fund while enjoying insurance protection. With Kes 1,000 you can start the journey of securing your child’s future.
Why Sign Up for a Soma Sure Lite Education Plan?
- Flexibility: In addition to your regular premium deposits, this plan allows you to make additional contributions of any amount helping you grow your education fund faster.
- Higher returns: Enjoy competitive returns on your investment with a minimum guaranteed net return of 5% per annum.
- Protection: In the unfortunate event of your demise, we will continue to pay your outstanding premiums so that the final payouts remain as you had intended, thus securing your child’s education.
- Tax relief: If you sign up for a policy with a duration of 10 years and above, you get to enjoy a tax relief of 15% of your contribution(s) subject to a maximum amount of Kes. 60,000 per annum.
- Premium holiday: You will not be required to make any premium payments in the last 3 years of your policy.
- Partial and full withdrawals: You can access your funds at any time at no charge.
What Additional Insurance Cover is Available with a Soma Sure Lite Education Plan?
You will be able to take up the following benefits at an additional cost.
- Permanent and Total Disability (PTD) Benefit: You will receive a lumpsum payment in the event of permanent and total disability.
- Critical Illness Benefit: You will receive a lumpsum payment on the first diagnosis of a critical illness to assist you to seek medical care locally or abroad and to help you adjust to lifestyle changes.
- Family Income Benefit: Your beneficiary will receive a regular monthly income for a specified benefit payment term in the event of death due to accidental or non-accidental causes.
- Death Benefit: Your beneficiary will receive a lumpsum payment in the event of death.
- Funeral Expense Benefit: Your beneficiary will receive a lumpsum payment in the event of death within 48 hrs to cater for funeral expenses.
Frequently Asked Questions (FAQs)
What are the requirements to sign up for a Soma Sure Lite Education Plan?
- Have a valid national identification card or Kenyan passport or Alien ID
- Have a KRA PIN
- Be between the ages of 18 and 60 years at sign-up
- Any other eligibility criteria shall be determined based on underwriting guidelines from time to time
What should I expect when I sign up?
- Once your policy is ready, you will receive an SMS confirmation message from Britam.
- A policy document will be sent to you through your email to confirm your cover.
- You will be able to view your statement through the MyBritam portal (available at https://customerportal.britam.com ) or app (available on Google PlayStore or Apple App Store).
How can I pay my premiums or make additional deposits into my Soma Sure Lite Education Plan?
There are various convenient ways to do this:
- MyBritam portal: Access this easily via https://customerportal.britam.com
- MyBritam app: Simply download and sign up on the app on Google PlayStore or Apple App Store
- Direct Debit: Set up regular deductions from your bank account
- Bankers or Personal Cheques written to “Britam”
- Salary deduction: Through your employer
- RTGS/EFT
4. What will the interest rate be on my investment?
The returns will be determined by the performance of the assets in which your deposits are invested. We have a guaranteed net return of 5% per annum at maturity. You can earn more than this depending on the fund performance.
How much do you charge in management fees?
Soma Sure Lite Education Plan has a 0.33% monthly management fee charged on the fund value of your investment to professionally manage the fund on your behalf. This is to ensure that you get maximum returns on your investment.
Interested?
Simply get in touch with a Britam Financial Advisor and they will walk you through the process.
Gallin Wekesa:
Text / Whatsapp: 0712870447,
Email: gwwekesa@britam.com, gallywexa@gmail.com